On 9 May, numerous regional and company dignitaries attended the groundbreaking ceremony for Doublestar Tire’s new factory in Cambodia. Doublestar (Cambodia), a joint venture with UBE Development Co. Ltd., aims to meet growing international demand for high-performance radial tyres. The 400,000 square metre plant will have capacities to produce 7 million PCR tyres and 1.5 million TBR tyres annually.
A ceremony was held on 6 July to mark to completion of Doublestar Tire’s acquisition of a 45 per cent share in Kumho Tire. The event in Seoul was titled ‘Celebrating New Beginning’ and was attended by the Chinese and South Korean tyre makers’ management teams as well as representatives from Korea Development Bank, which together with other creditors still maintains a 23 per cent share in Kumho Tire.
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